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Old 02-14-2021, 01:50 PM
 
Location: under the beautiful Carolina blue
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Quote:
Originally Posted by m378 View Post
Isn’t that usually only condos/townhouses?
Some HOAs have passed it, for SFHs.
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Old 02-15-2021, 08:52 AM
 
Location: Raleigh, NC
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For your tenant questions, all I can I say is read.the.bylaws before you commit. As some said, there are sometimes caps on how many homes can be rented in the community (Rented outright, where owner is not living). Less common I'd say especially for SFHs is "non related people" restrictions, but they could exist.

Some neighborhoods, and this is hit or miss, yes, will not be too "friendly" to you having clear tenants and renting out rooms- there's nothing they can do about it as long as you're not breaking the HOA, but as someone else said yes there can be anti-renter in a majority homeowner neighborhood.
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Old 02-15-2021, 09:07 AM
 
Location: Raleigh NC
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As far as buying, talk to a mortgage lender first to see what effect if any your employment situation will have on when you can get approved.

As to runaway pricing, sounds like you'd be in the 280-380K range, and that is indeed (over)heated - up about 13% last year in "Cary".

I can't imagine an HOA that prevents you from renting a room to someone, but they could govern your parking situation.
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Old 02-15-2021, 04:26 PM
 
Location: Cary, NC
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As others have said, check the HOA rules very, very carefully. Many have restrictions of no parking on the road. That might be an issue if you have multiple renters, as your driveway won't accommodate all those cars (and you need a car).

Most HOA neighborhoods are not fond of renters.
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Old 02-15-2021, 04:56 PM
 
Location: Raleigh, NC
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Go to Harris Teeter for a variety of chocolate. I also do mail order from Moonstruckuck in Portland.
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Old 02-15-2021, 07:03 PM
 
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Quote:
Originally Posted by Sassakitty View Post
As others have said, check the HOA rules very, very carefully. Many have restrictions of no parking on the road. That might be an issue if you have multiple renters, as your driveway won't accommodate all those cars (and you need a car).

Most HOA neighborhoods are not fond of renters.
If it's a public street, they can try and regulate street parking all they want, but they have no case. Ours went through this.

My neighborhood was trended solidly renter over the past three years. Pretty much half the homes sold get bought either by private landlords or large property management firms and rent them out. Homes are in the $250-$270 range. The home across the street is owned by a student at NC State(?) who rents it out on AirBnb to single renters. At one point there were five cars out front and on the street.

Something to keep in mind, buying a $300k home comes with the people that bought in when it was a $200k home. Same goes for $400k, although it will be better, as 300k seems to be a defining line here in this area for "renterville" vs "homeownerville".
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Old 02-17-2021, 04:04 PM
 
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Or, just buy a home that has no HOA. Nearly all of them will have restrictive covenants, though, and municipal codes also apply. (My 1980-ish neighborhood has an "HOA" but it's a voluntary group with no teeth.)
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